Initiative of the Hauenstein Center for Presidential Studies

I thank you, my dear sir, for the line you were so obliging as to leave for me, and the loan of the book accompanying it, in which I have not made sufficient progress to judge of its merit. I don’t know how it was, but I took it for granted that you had left town earlier than I did; else I should have found an opportunity, after your adjournment, to converse with you on the subjects committed to me by the House of Representatives. It is certainly important that a plan as complete and as unexceptionable as possible should be matured by the next meeting of Congress; and for this purpose it could not but be useful that there should be a comparison and concentration of ideas, of those whose duty leads them to a contemplation of the subject. As I lost the opportunity of a personal communication, may I ask of your friendship, to put to paper and send me your thoughts on such objects as may have occurred to you, for an addition to our revenue, and also as to any modifications of the public debt, which could be made consistent with good faith—the interest of the public and of the creditors.

In my opinion, in considering plans for the increase of our revenue, the difficulty lies not so much in the want of objects as in prejudice, which may be feared with regard to almost every object. The question is very much, What further taxes will be least unpopular?(Source: http://oll.libertyfund.org/)

Sir:—I think it probable that you will have learnt, through other channels, before this reaches you, my appointment as Secretary of the Treasury of the United States. In this capacity the debt due from us to France, will, of course, constitute one of the objects of my attention.

Except with regard to a few laws of immediate urgency, respecting commercial imposts and navigation, the late session of Congress was wholly occupied in organizing the government. A resolution, however, passed the House of Representatives, declarative of their opinion that an adequate provision for the support of the public credit was a matter of high importance to the honor and prosperity of the United States; and instructing me to prepare and report a plan for that purpose at their next session.

In this state of things you will readily perceive that I can say nothing very precise with regard to the provision to be made for discharging the arrearages due to France. I am, however, desirous that it should be understood that proper attention will be paid to the subject on my part; and I take it for granted that the National Legislature will not fail to sanction the measures which the faith and credit of the United States require in reference to it. In addition to this I shall only remark that it would be a valuable accommodation to the government of this country if the court of France should think fit to suspend the payment of the instalments of the principal due and to become due, for five or six years from this period, on the condition of effectual arrangements for the punctual discharge of the interest which has accrued and shall accrue. But in giving this intimation it is not my intention that any request should be made to that effect. I should be glad that the thing might come about in the form of a voluntary and unsolicited offer; and that some indirect method may be taken to communicate the idea where it would be of use it should prevail. It may not be amiss that you should know that I have hinted the matter in the inclosed private letter to the Marquis de Lafayette, in forwarding which I request your particular care.

I have the honor to be, Sir,

Your obedient and humble servant,

Alexander Hamilton,

Secretary of the Treasury.

William Short, Chargé d’ Affaires,

Paris.

P. S.—Since writing the above, I have, in a private and unofficial manner, broken the matter to the Count de Moustier; and I have reason to conclude he will promote what is desired.(Source: http://oll.libertyfund.org/)

I have seen, with a mixture of pleasure and apprehension, the progress of the events which have lately taken place in your country. As a friend to mankind and to liberty, I rejoice in the efforts which you are making to establish it, while I fear much for the final success of the attempts, for the fate of those I esteem who are engaged in it, and for the danger, in case of success, of innovations greater than will con sist with the real felicity of your nation. If your affairs still go well when this reaches you, you will ask why this foreboding of ill, when all the appearances have been so much in your favor. I will tell you. I dread disagreements among those who axe now united (which will be likely to be improved by the adverse party) about the nature of your constitution; I dread the vehement character of your people, whom I fear you may find it more easy to bring on, than to keep within proper bounds after you have put them in motion; I dread the interested refractoriness of your nobles, who cannot be gratified, and who may be unwilling to submit to the requisite sacrifices. And I dread the reveries of your philosophic politicians, who appear in the moment to have great influence, and who, being mere speculatists, may aim at more refinement than suits either with human nature or the composition of your nation.

These, my dear Marquis, are my apprehensions. My wishes for your personal success and that of the cause of liberty are incessant. Be virtuous amidst the seductions of ambition, and you can hardly in any event be unhappy. You are combined with a great and good man; you will anticipate the name of Neckar. I trust you and he will never cease to harmonize.

You will, I presume, have heard before this gets to hand, that I have been appointed to the head of the finances of this country. This event, I am sure, will give you pleasure. In undertaking the task I hazard much, but I thought it an occasion that called upon me to hazard. I have no doubt that the reasonable expectation of the public may be satisfied if I am properly supported by the Legislature, and in this respect I stand at present on the most encouraging footing.

The debt due to France will be among the first objects of my attention. Hitherto it has been from necessity neglected. The session of Congress is now over. It has been exhausted in the organization of the government and in a few laws of immediate urgency respecting navigation and commercial imposts. The subject of the debt, foreign and domestic, has been referred to the next session, which will commence the first Monday in January, with an instruction to me to prepare and report a plan comprehending an adequate provision for the support of the public credit. There were many good reasons for a temporary adjournment.

From this sketch you will perceive that I am not in a situation to address any thing officially to your administration; but I venture to say to you, as my friend, that if the installments of the principal of the debt could be suspended for a few years, it would be a valuable accommodation to the United States. In this suggestion, I contemplate a speedy payment of the arrears of interest now due, and effectual provision for the punctual payment of future interest as it arises. Could an arrangement of this sort meet the approbation of your government, it would be best on every account that the offer should come unsolicited as a fresh mark of good-will.

I wrote you last by Mr. De Warville. I presume you received my letter. As it touched upon some delicate topics I should be glad to know its fate.

P. S.—The latest accounts from France have abated some of my apprehensions. The abdications of privileges patronized by your nobility in the States-General are truly noble, and bespeak a patriotic and magnanimous policy which promises good both to them and their country.

Whereas it is the duty of all nations to acknowledge the providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favor; and

Whereas both Houses of Congress have, by their joint committee, requested me " to recommend to the people of the United States a day of public thanksgiving and prayer, to be observed by acknowledging with grateful hearts the many and signal favors of Almighty God, especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness: "

Now, therefore, I do recommend and assign Thursday, the 26th day of November next, to be devoted by the people of these States to the service of that great and glorious Being who is the beneficent author of all the good that was, that is, or that will be; that we may then all unite in rendering unto Him our sincere and humble thanks for His kind care and protection of the people of this country previous to their becoming a nation; for the signal and manifold mercies and the favor, able interpositions of His providence in the course and conclusion of the late war; for the great degree of tranquillity, union, and plenty which we have since enjoyed; for the peaceable and rational manner in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national one now lately instituted; for the civil and religious liberty with which we are blessed, and the means we have of acquiring and diffusing useful knowledge; and, in general, for all the great and various favors which He has been pleased to confer upon us.

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations, and beseech Him to pardon our national and other trangressions; to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually; to render our National Government a blessing to all the people by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed; to protect and guide all sovereigns and nations (especially such as have shown kindness to us), and to bless them with good governments, peace, and concord; to promote the knowledge and practice of true religion and virtue, and the increase of science among them and us; and, generally, to grant unto all mankind such a degree of temporal prosperity as He alone knows to be best.

- Given under my hand, at the city of New York, the 3d day of October,

Subscribe

Purpose Statement

To understand the United States Constitution, we must first understand how it was debated, created, and animated. To that end, the Hauenstein Center for Presidential Studies is republishing, seriatim, James Madison's Notes on the Constitutional Convention; Madison's, Alexander Hamilton's, and John Jay's Federalist Papers; the Anti-Federalist Papers; and papers of the founders -- 220 years to-the-day after they originally appeared.